Texas nabs another big California tech firm; relocating to downtown Dallas from San Diego

[mc51tc]

Not a done deal yet, but:

"California tech firm could relocate up to 1,000 jobs to Dallas in biggest move since Comerica"

http://www.dallasnews.com/business/commercial-real-estate/headlines/20140211-california-tech-firm-could-relocate-up-to-1000-jobs-to-dallas-in-biggest-move-since-comerica.ece

"A deal in the works could bring up to 1,000 new jobs to Dallas and save a troubled downtown skyscraper.

The KPMG Centre office tower has been owned by lenders since 2012 and is being sold to an Austin investor, World Class Capital Group.

As part of the pending transaction, the new owners are negotiating with a California-based company, Omnitracs LLC, that is looking to relocate major operations to Texas.

San Diego-based Omnitracs is one of several companies owned by Austin-based investor Vista Equity Partners that would move offices into the KPMG tower, real estate brokers say.

The deal could involve as much as 300,000 square feet of office space and would be the largest out-of-state move to downtown Dallas since Comerica Bank relocated in 2006."

[pampango]

1. 1,700 employees moving from California to right-to-work Texas. Is Omnitracs unionized? n/t

[Arugula Latte]

2. I'd hate to have to move from San Diego to Dallas.

Bye bye ocean, bye bye mountains, bye bye great climate.

[badtoworse]

4. Bye-bye state income tax?

[Arugula Latte]

5. Yeah, and bye bye services provided by state income taxes.

[badtoworse]

9. So what services does San Diego provide that Dallas doesn't?

[A HERETIC I AM]

13. Lifeguards at the beach. n/t

[badtoworse]

14. LOL! - You've got me there.

[A HERETIC I AM]

15. ..,....

BTW, because you didn't have any, that's why.

(If you were wondering who gave it to you and why)

[badtoworse]

16. Thank you!

[pnwmom]

11. Hello to no zoning. Hello to summer heat. n/t

[tammywammy]

17. Dallas has zoning. n/t

[mc51tc]

6. Southwest Airlines will start cheaper non-stop service to San Diego this fall,

when the Wright Amendment at Love Field goes away in late October 2014. Relocators from San Diego can make a huge profit from their homes there and will have enough money left over to buy a cheaper, bigger home in the DFW area with lots of profit money to take vacations or commute if they choose to do so.

[snooper2]

12. hello jobs

hello affordable homes

hello to a city with great diversity

[TexasTowelie]

3. It looks like Rick Perry's job-poaching trip might be showing some payoffs.

I hope the company provides a generous severance package for those employees that choose not to relocate to Dallas. Hopefully the relocation to Dallas will spark some additional opportunities to other businesses in downtown Dallas since there are still plenty of vacant buildings.

I posted another thread that is related to this story at http://www.democraticunderground.com/10024488714 .

[Initech]

8. Lewis Black totally annihilated this theory last year:

http://www.thedailyshow.com/watch/wed-july-17-2013/back-in-black---new-york-vs--texas

[haele]

10. "San Diego" Firm owned by "Austin-based" investors moves to Dallas.

No big suprise there. I doubt the original owners of Omnitracs LLC - the people that built the business in San Diego, still have much of anything to say in the situation. If they're still involved at all.

I'd be interested to see what links there are between Austin-based World Class Capital Group and Austin-based Vista Equity Partners.

Haele

[Hell Hath No Fury]

18. Yeah, that was a big shrug --

to me as well. I have no doubt the Austin-based venture capitalist who own the company view this as better move for their bottom line -- because that is ALL they are about.

[delete_bush]

19. Qualcomm owned this for

I believe over 25 years before the recent sale. As Vista has roots in TX, along with no doubt a sweetheart deal on the lease, it probably makes sense at some level for them to do this. They also acquired another company, so this might be a consolidation of forces as well.

We have tons of high tech here, so it will be interesting to see how many employees choose to stay and find employment elsewhere. I certainly would do so, leaving here for Dallas wouldn't work for me.